Is it smart to be bullish on Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)?
In today’s marketplace, there are plenty of indicators investors can use to analyze their holdings. Two of the most innovative are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the top fund managers can outpace the broader indices by a healthy margin (see just how much).
Just as crucial, optimistic insider trading activity is another way to analyze the marketplace. There are many motivations for an upper level exec to drop shares of his or her company, but just one, very clear reason why they would behave bullishly. Many academic studies have demonstrated the useful potential of this tactic if investors know where to look (learn more here).
What’s more, it’s important to study the newest info surrounding Sinclair Broadcast Group, Inc. (NASDAQ:SBGI).
How have hedgies been trading Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)?
At the end of the second quarter, a total of 33 of the hedge funds we track were long in this stock, a change of 65% from one quarter earlier. With hedge funds’ capital changing hands, there exists a few notable hedge fund managers who were increasing their holdings significantly.
Out of the hedge funds we follow, Tiger Global Management LLC, managed by Chase Coleman and Feroz Dewan, holds the biggest position in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Tiger Global Management LLC has a $95.1 million position in the stock, comprising 1.7% of its 13F portfolio. Sitting at the No. 2 spot is Steven Cohen of SAC Capital Advisors, with a $84.4 million position; the fund has 0.5% of its 13F portfolio invested in the stock. Other hedge funds with similar optimism include John Thaler’s JAT Capital Management, Daniel Lewis’s Orange Capital and Alexander Mitchell’s Scopus Asset Management.
Now, certain bigger names were breaking ground themselves. Tiger Global Management LLC, managed by Chase Coleman and Feroz Dewan, assembled the biggest position in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Tiger Global Management LLC had 95.1 million invested in the company at the end of the quarter. Steven Cohen’s SAC Capital Advisors also initiated a $84.4 million position during the quarter. The other funds with new positions in the stock are John Thaler’s JAT Capital Management, Daniel Lewis’s Orange Capital, and Alexander Mitchell’s Scopus Asset Management.
How are insiders trading Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)?
Insider buying is most useful when the company in focus has experienced transactions within the past six months. Over the last half-year time frame, Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll go over the relationship between both of these indicators in other stocks similar to Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). These stocks are Fisher Communications, Inc. (NASDAQ:FSCI), Nexstar Broadcasting Group, Inc. (NASDAQ:NXST), LIN TV Corp (NYSE:TVL), Belo Corp. (NYSE:BLC), and CTC Media, Inc. (NASDAQ:CTCM). This group of stocks belong to the broadcasting – tv industry and their market caps are similar to SBGI’s market cap.
